President Christodoulides and Chevron reaffirm support for the ‘Aphrodite’ project

by THEFUTURE.TEAM

September 29, 2024

The President of the Republic Nikos Christodoulides and the Vice President of Chevron, the managing company of the field, Frank Cassulo, have reaffirmed their support for the development of the “Aphrodite” liquified natural gas field in Cyprus’ EEZ.

According to an announcement by the Presidency, in his statement, Government Spokesman Konstantinos Letymbiotis said that, during his time in New York, President Christodoulides met with a delegation of the US giant, led by the Vice President of the company.

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“The President of the Republic and the Vice President of the company reaffirmed their support for the ‘Aphrodite’ project, a project of strategic importance both for the energy planning of Cyprus, the wider region, but also for the company itself,” Letymbiotis said in his statement.

He also noted that “in the next period, with the road map that has been drawn up through a specific taking of actions and steps, the relevant Ministry of Energy and the Chevron company will proceed to be in close coordination and close cooperation for this strategically important project.”

The meeting with President Christodoulides took place after the joint statement of the Ministry of Energy and the US company, following their meetings in Nicosia, to hold discussions over the next four months “in order to seek a consensual arrangement that ensures the development of the ‘Aphrodite’ field without further delays,” as the Minister of Energy George Papanastasiou had stated.

The consortium that holds the license to develop the field had announced that it had filed an amended development and production plan for ‘Aphrodite’, worth $4 billion, with the Ministry of Energy on 2 September.

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EU Farm Output Prices Decline For The First Time In Nine Months

by THEFUTURE.TEAM

March 12, 2026

EU Market Adjustments Signal New Price Trends

Agricultural output prices across the European Union declined in the fourth quarter of 2025, marking a shift after several quarters of increases. Data from Eurostat shows that farm gate prices fell by 1.9% compared with the same period in 2024.

Crisis of Declining Prices In Select Markets

Cyprus recorded one of the more notable decreases in agricultural input costs among EU member states, with prices falling by 2.6% compared with Q4 2024. The reduction eased cost pressures for the local agricultural sector following periods of higher prices earlier in 2025. Across the EU, prices for goods and services consumed in agriculture remained relatively stable. Non-investment inputs such as energy, fertilisers and feedingstuffs showed limited overall changes during the quarter.

Country-Specific Divergence In Price Movements

Eurostat data highlights considerable variation across member states. Fifteen EU countries recorded declines in agricultural output prices. Belgium registered the largest decrease at 12.9%, followed by Lithuania (8.2%) and Germany (6.0%). At the same time, twelve countries reported increases in output prices. Ireland recorded the strongest rise at 6.8%, followed by Slovenia (5.6%) and Malta (4.2%).

Stability In Agricultural Inputs Amid Commodity Shifts

Agricultural input prices also showed mixed developments. Eleven member states recorded declines, including Cyprus (2.6%), Belgium (2.1%) and Sweden (2.0%). Other countries experienced moderate increases, including Lithuania (4.2%), Ireland (3.3%) and Romania (2.5%). Among major agricultural commodities, milk prices declined by 4.1% while cereal prices fell by 8.9% across the EU. In contrast, fertilisers and soil improvers increased by 7.9%, reflecting continued volatility in input markets.

Outlook For EU Agriculture

The latest Eurostat data points to uneven price developments across the EU agricultural sector. While input prices remained broadly stable in many markets, movements in output prices varied significantly between member states. These trends highlight the need for farmers and policymakers to adapt to shifting commodity prices and changing cost structures across the European agricultural market.

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